4 Ways to Make Sure You're Set up for Success in Q1 of 2021

money + taxes project + client + time mgmt Jan 14, 2021

Every Q1 is just like day 1: it matters.

A few weeks ago, Beth and I met up to discuss our plans for Kenza in the first quarter. Because our time is limited - we both have clients to serve still, and family obligations - we need to be laser focused on what we’re hoping to accomplish. So we worked to keep our plans simple and achievable. If 2020 taught us anything, it’s that the world is changing very quickly these days, and we need to stay flexible and open to opportunities that may look like setbacks.

For our quarterly planning meeting, we focused on 4 key areas:

Setting an intention for the quarter
Discussing the time we have to commit to Kenza. We added dates and times that we’re unavailable over the next quarter so that we can plan around it.
We used our intention to drive our discussion around where we want to be spending our energy.
And then we had an open look at our budget and cash flow to ensure that we’re all set.

We also just caught up with each other and checked in on how we’re each doing.

We thought that it would be helpful to share the details of this process with you all so that you can sit down with yourself, your partner, or anyone else in your business and go through this exercise. It felt really grounding, and also really nice to just be planning for the next few months, instead of an entire year.

Oh AND, we’re providing a FREE Google Doc worksheet & checklist where you can fill in your answers and make sure you’re doing what you can to set yourself up for success this quarter. Get it right here:

Here's what you'll find in this episode...

[:31] Happy New Year, and welcome back! By the end of this episode, you'll be ready to plan for and tackle Q1.
[2:04] It's been a heavy time, especially in the US. You know what, though, we can still show up with hope and perseverance!
[6:45] Tiff and Beth sat down and looked at 4 main areas of the Kenza biz: setting an intention (this year: connection!); time management; where energy is spent; and finally, budget and finance projections
[8:20] For season 2 of the Kenza Pod, be on the lookout for episodes that include supplemental materials, like the Google Doc linked above
[9:58] ICYMI, we launched a course! You Can Do This is a $29 course that will give you the tools, resources and knowledge you need to take control of your time and work and stop working for The Man. Seriously, this course is THE jump off point for working for yourself!
[17:21] Okay, let's dive into setting up success in Q1. First, set an intention. Our intention for Kenza is "connection," meaning we want to take a nice, cleansing breath and focus on our audience (like you!) So, everything we focus on this quarter, and any goal we define, will be built around connection with our audience. As Beth puts it: when faced with a decision, choose the option that serves your intention
[22:36] Secondly, we got into the nitty gritty of our time. This is extra important now while we all deal with crazy schedules, child care issues, family needs... it's crucial to talk to the people in your world (and yourself) about your time and how much of it you can dedicate to your business in the first quarter. Also, ahem, the Capacity Planning Tool comes in clutch here
[28:34] Now that we know our intention, and how much time we can dedicate, the next step is defining how we want to spend our energy. Get specific here. For Kenza, we discussed social media, and how we want to spend our energy on certain platforms, and how we can put action to our intention for connection, and how much time we have to spend on social media (see what we did there?)
[31:23] Book rec alert: The Untethered Soul, a book Tiff has been reading that has helped bring some perspective on awareness of where your energy goes, and how to direct it in the way that you want
[33:28] Don't perseverate (look it up!) on thoughts or ideas that don't serve you
[36:53] Last, but not least (in fact, this is Beth's fave): the money! It makes the world go 'round (or whatever), and is obviously one of the main reasons you are in business. So, what do you check in on for the quarter? Perhaps review subscriptions that turned out to be less than useful, or you no longer need. Maybe you take that money and stick it into your reserve ;)
[41:27] Yep, January means tax time is around the corner. Kirstin Smith, tax pro extraordinaire, clued us in that irs.gov has new page on managing taxes for gig workers. Keep an eye out, we'll have her back on the pod soon!
[46:51] Don't forget, if you had subcontractors, you need to send them their forms by February 1! This year, there are two forms, the 1099 Misc and the 1099 NEC
[51:47] Keep an eye on @KenzaCollective social (we are on Clubhouse now, too!) for more info about our upcoming tax episode with Kirstin Smith and a possible listener Q&A
[55:16] Guys, last year really showed us: we need to work for ourselves. You have skills (trust, you do), and we can show you how to leverage them.